The weekly sentinel. [volume] (Winston-Salem, N.C.) 1886-1887, 1887-01-13
THE GOVERNORS MESSAGE.

THE GOVERNORS MESSAGE.
We devote much of our editorial
space this week to synopsis of Gov.
SCALES excellent Message to theState
Legislature. The document in its
entirety will occupy nearly two whole
pages of The SENTINEL.
The Governor begins by saying
that although the past two years have
not been years of plenty and profit,
we have been greatly blessed, in that
we have had no bloodshed, earth
quakes, or floods which have visited
other portions of the country.
Speaking of the public fund, he
says the receipts are as follows:
1856, S35, 421.O3
These receipts are subjected to re-
duction of certain special funds, not
constituting a part of the ordinary
revenue. They are stated as follows
Fise ass year. Fiscal 1 yssF'
Tax on fertilizers. 400 ........$41 900
Sale of useless arms.z,ooo
f BiEid 9f 5G' from9 49, 14s $40
s1so,s4o $751;, s2s
Deducting these special amounts
the ordinary revenues for the fiscal
wears are stated as follows
Year ending Nov. sOth, 1885, ,917 62
1886, .. CSC, sol O3
The expenditures from this fund for
the fiscal year ending Nov. 3Oth, 1885
and Nov. 3Oth, 1886, were as follows
Fiscal year 1862
1886, ,172,652,3
These expenditures are subjest to a
deduction of special funds, not pro-
vided for by the ordinary revenues Of
the State, but payable out of moneys
specially collected. They are stated
as follows:
Agricultural Department s45 SOC. ..$45 ,0000 90
Interest, per cent bonds Is ,24O .201 90
Executive Mansion, .............-.;.2 1855
Invt is per ct. State bds.... 247 1883
,Ile,74oso 1892 ,o7es4
Deducting these amounts the ex-
| penditures for the two fiscal years,
payable out OF the ordinary funds
of the State for general purposes,
were as follows:
Year ending Nov 80, 1885,. s675 ,746. 20
1856, $50, 572.97
The balance in the hands of the
State Treasurer on 30th of November,
1886, is stated as follows:
| Educational und,.............s2S, 22S. 81
| Public Fund ,327. 06
| s195, 1904
A reduction OF tax to 23cts on the
500 is recommended. The Governor
concieves in the recommendation OF
the treasurer that the legislature sus-
pend the further exchange of the Con-
struction bonds, which were issued by
the State to aid in the construction of
the n. G. R. r. These bonds have
been quoted in the market at $3.50 and
$40, and are more than equal to four
per cent. at par, as an investment. He
| recommends that the treasurer be au-
thorized to issue and sell four per cent
bonds as many as necessary, at not less
than par value and that the proceeds
be applied to the payment of these
outstanding six per cent construction
| bonds. When taken up new bonds
can be issued and set apart for the
payment of the four per cent interest
on the bonds sold, leaving with the
treasurer an interest balance of two
per cent as sinking fnnd to be appli-
ed to the matured debt, thereby saving
the State in interest by the year 1910,
the sum of $1OO,O02.SO. If the legis-
lature shonld deem best to sell these
construction bonds at a premium of
thirty cents to be used in the same
way, then the State would realize on
each bond the sum of $500, which
would be $50 in excess Of the amount
gained by exchange and this is the
whole number of bonds would amount
to s13,OSO.
The Governor submits the report of
the Tax Commission and alludes to it
in very complimentary terms. Refer
ing to the new State building he says
the contract for building was accepted
for $4,000. The architect was dis
appointed in getting as much convict
labor as he desired and his estimates
are found too low and deficiency is
the result. He says that it is the duty
of the legislature, imposed by law, to
provide residence for the Governor,
and it is wisdom and economy to COM
plete the present building and he so
recommends.
The Governor goes to considerable
length regarding the Agricultural De-
partment enumerating many of the
benefits which the State has derived
therefrom. He speaks encouragingly
| of the OYSTER Survey and recommends